Apple Inc. (NASDAQ:AAPL) Falls Below $400 After Earnings

Apple Inc.  (NASDAQ:AAPL) shares took hard knock in the after-hours following the company failed to set another record sales in its third quarter.

After several record quarters, the company marked no new iPhone or iPad releases during the 3rd quarter.

The company’s Net income during the 4th quarter was up by 54% to $6.62 billion, or $7.05 per share, from $4.31 billion, or $4.64 per share as recorded in the previous year.

According to Factset, Analysts estimated an earning of $7.28 per share.

The company’s Revenue was up by 39 % to $28.3 billion, which the analysts estimated at $29.4 billion.

The company sold 17.1 million iPhones during the 4th quarter and around 20.3 million in the 3rd quarter, which was well below the analysts expected figures.

Shares of AAPL slid 6.64% to $394.20 in after hours.

Disclaimer:

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